Meridian Co. (NASDAQ:MRBK) CFO Purchases $18,020.00 in Stock

Meridian Co. (NASDAQ:MRBK) CFO Denise Lindsay acquired 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was bought at an average price of $9.01 per share, for a total transaction of $18,020.00. Following the completion of the transaction, the chief financial officer now owns 82,000 shares of the company’s stock, valued at approximately $738,820. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Denise Lindsay also recently made the following trade(s):

• On Monday, February 26th, Denise Lindsay purchased 2,000 shares of Meridian stock. The stock was bought at an average cost of $9.66 per share, with a total value of $19,320.00.

Meridian Stock Performance

Meridian stock opened at $8.75 on Monday. Meridian Co. has a 1-year low of $7.80 and a 1-year high of $14.24. The firm has a market cap of $97.91 million, a P/E ratio of 8.33 and a beta of 0.70. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.32. The firm has a 50-day moving average of $9.40 and a 200-day moving average of $11.10.

Meridian (NASDAQ:MRBK) last posted its earnings results on Friday, April 26th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.01. Meridian had a return on equity of 7.64% and a net margin of 6.75%. The firm had revenue of $45.20 million for the quarter, compared to analysts’ expectations of $23.68 million. Sell-side analysts expect that Meridian Co. will post 1.35 EPS for the current year.

Meridian Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, May 13th will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 5.71%. The ex-dividend date is Friday, May 10th. Meridian’s payout ratio is 47.62%.

Wall Street Analyst Weigh In

MRBK has been the topic of several analyst reports. Piper Sandler downgraded Meridian from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $14.00 to $13.00 in a report on Monday, January 29th. TheStreet cut shares of Meridian from a “b-” rating to a “c” rating in a report on Friday, January 26th.

Hedge Funds Weigh In On Meridian

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Strid Group LLC bought a new position in shares of Meridian in the 1st quarter worth approximately $431,000. Mendon Capital Advisors Corp purchased a new stake in shares of Meridian in the fourth quarter worth $670,000. Borer Denton & Associates Inc. bought a new stake in Meridian during the 4th quarter valued at about $476,000. Banc Funds Co. LLC raised its holdings in Meridian by 7.4% in the fourth quarter. Banc Funds Co. LLC now owns 782,678 shares of the company’s stock worth $10,879,000 after buying an additional 53,990 shares during the last quarter. Finally, LSV Asset Management raised its stake in shares of Meridian by 3.5% in the fourth quarter. LSV Asset Management now owns 92,822 shares of the company’s stock worth $1,290,000 after purchasing an additional 3,114 shares during the last quarter. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Meridian Company Profile

Meridian Corporation operates as the holding company for Meridian Bank that provides commercial banking products and services in Pennsylvania, New Jersey, Delaware, Florida, and Maryland. The company offers various deposit products, such as demand non-interest bearing, demand interest bearing, savings accounts, money market accounts, and time deposits.